BAAN Holding Group Co. — Capital/Financing Update 2016

Nov 22, 2016

Abdulmohsen Al Hokair Group for Tourism and Development Company announces the list of new projects under development for Hotels and Entertainment

1820 · 22/11/2016 08:31:47 · Announcement #44607 · View on Saudi Exchange

Abdulmohsen Al Hokair Group for Tourism and Development Company announces the list of new projects under development for Hotels and Entertainment

Abdulmohsen Al Hokair Group for Tourism and Development Company announces the list of new projects under development for Hotels and Entertainment

Projects of Hotels Division:

1- MENA Hotel-Tabuk: The hotel consists of (82) rooms & suites, plus a restaurant, multipurpose halls, a health club and swimming pool. The hotel is leased to Al Hokair Group for period of 15 years which will come to effect from the date of receipt of the hotel building. It is expected that the hotel will be handed over to Al Hokair Group in order to complete the operational requirements by the end of 2016 and is expected to have its soft opening plus its financial impacts by the second half of 2017.

Projects of Entertainment Division:

New Locations:

1- Al Hokair Time - Dammam: Construction is going on and the total area of the location is 5,000 square meter which includes the brands of Sky Zone, Sparkys and Snowy. The project is expected to have financial impact by second quarter of 2017.

2- Al Hokair Time - Al Khobar: Construction is ongoing and the total area of the location is 8,000 square meter which includes the brands of Sky Zone, Sparkys and Snowy. The project is expected to have financial impact by fourth quarter of 2017.

3- Sky Zone and Snowy at Al Khair Mall - Riyadh: Sky Zone site was opened during the current month and Snowy site is under development which will be operational before the end of 2016. The total area of the site is 1,600 square meter and the financial impact of the operation is expected by the first quarter of 2017. It is worth mentioning that this location pertains to Asateer Co. which is owned 50% by Al Hokair Group.

Renovation and Reopening of Existing Locations:

1- Renovation of Luna Park in Taif and reopening the location under the name of Al Hokair Time: Renovation works are ongoing and the entire project will include the brands of Sky Zone, Sparkys and Snowy. The total area of the location is 8,400 square meter and the financial impact of the operation is expected in the third quarter of 2017.

2- Renovation of Luna Park in Madinah and reopening the location under the name of Al Hokair Time: Renovation works are ongoing and the entire project will include the brands of Sky Zone, Sparkys and Snowy. The total area of the location is 5,000 square meter and the financial impact of the operation is expected in the third quarter of 2017.

Sources of financing is available for the company from local banks .

Any future developments will be announced in due time. Noting that the above mentioned projects are not with a related party.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.